Exit: NORD Holding sells hg medical to Astorg Mid-Cap

Raisting/Hanover — NORD Holding Unter­neh­mens­be­tei­li­gungs­ge­sell­schaft mbH (“NORD Holding”) has sold its majo­rity share­hol­ding in hg medi­cal, a leading contract manu­fac­tu­rer of high-quality ortho­pe­dic implants, to Astorg Mid-Cap (“Astorg”).

hg medi­cal is a leading provi­der of high-quality ortho­pe­dic implants with a focus on lower extre­mi­ties, upper extre­mi­ties and the spine. With state-of-the-art faci­li­ties in Germany and the U.S., the company diffe­ren­tia­tes itself as a leading provi­der in the extre­mi­ties segment. The compre­hen­sive range of services is geared to the ever-chan­­ging needs of custo­mers and includes design and deve­lo­p­ment, proto­ty­p­ing, vali­da­tion and produc­tion of complex and high-quality implants.

The company works closely with physi­ci­ans and hospi­tals to ensure that implants meet pati­ent care requi­re­ments. hg medical’s excel­lent repu­ta­tion is based on compre­hen­sive tech­ni­cal know-how, high-quality manu­fac­tu­ring and outstan­ding custo­mer service. Through part­ner­ships with fast-growing chal­len­ger and blue-chip OEMs and a strong custo­mer focus, hg medi­cal has reali­zed excep­tio­nal growth over the past 16 years.

With the acqui­si­tion of hg medi­cal by NORD Holding in 2020, hg medi­cal, led by CEO and foun­der Johan­nes Hagen­meyer, COO Craig Bluett, and CFO Jürgen Stef­fen­sen, has been posi­tio­ned as a global leader in the ortho­pe­dic implant market.

Andre Seidel, part­ner of NORD Holding (photo © Nord­hol­ding), explains: “We are very proud and impres­sed by the deve­lo­p­ment of hg medi­cal in recent years. NORD Holding’s health­care team, NORD Holding’s opera­ti­ons team, and manage­ment have taken hg medi­cal to the next level by impro­ving finan­cial trans­pa­rency, opti­mi­zing proces­ses, and incre­asing produc­tion capa­city for future growth. We are also very plea­sed because hg medi­cal was one of our first invest­ments based on our dedi­ca­ted health­care invest­ment approach.”

In view of the incre­asing global demand for ortho­pe­dic implants, hg medi­cal is very well posi­tio­ned to conti­nue on its growth path and main­tain its posi­tion as a leading supplier in the indus­try. Astorg’s invest­ment will enable the company to further expand its capa­city and range of services to meet the growing demand for outsour­ced manu­fac­tu­ring in the ortho­pe­dic sector.

Consul­tant NORD Holding:
TD Cowen (M&A)
Milbank (Legal)
Alva­rez & Marsal (Commer­cial)
Deloitte (Finan­cial)
Flick Gocke Schaum­burg and Alva­rez & Marsal (Tax)
TAUW (ESG)

About hg medical

hg medi­cal, based in Rais­ting, Germany, is a leading contract manu­fac­tu­rer of high-quality ortho­pe­dic implants with a focus on lower extre­mi­ties, upper extre­mi­ties and in the spine area. hg medical’s custo­mers deve­lop products that improve the quality of life for many pati­ents world­wide. hg medi­cal supports them in successfully imple­men­ting their ideas in a highly compe­ti­tive envi­ron­ment. www.hg-medical.de

About Astorg

Astorg is a Euro­pean private equity company with a assets under manage­ment of over € 20 billion. Astorg works with entre­pre­neurs and manage­ment teams to acquire market-leading, global compa­nies head­quar­te­red in Europe, provi­ding them with the stra­te­gic guidance, corpo­rate leader­ship and capi­tal they need to achieve their growth objec­ti­ves. Astorg has a strong entre­pre­neu­rial culture, a long-term share­hol­der perspec­tive and a lean decis­­ion-making body. Astorg has valuable indus­try exper­tise in health­care, soft­ware and tech­no­logy, busi­ness services, and tech­­no­­logy-based indus­trial compa­nies. The offices are loca­ted in London, Paris, New York, Frank­furt, Milan and Luxembourg.

About NORD Holding

With over 50 years of history and assets under manage­ment of € 3.0 billion, NORD Holding is one of the leading private equity and asset manage­ment compa­nies in Germany. The focus is on the busi­ness areas of direct invest­ments and fund invest­ments. The focus of the direct busi­ness is on the struc­tu­ring and finan­cing of corpo­rate succes­sion models, the acqui­si­tion of group parts/subsidiaries and the expan­sion finan­cing of medium-sized compa­nies. In contrast to most other finan­cial inves­tors, who only manage time-limi­­ted funds, NORD Holding acts as a so-called “ever­green fund” with no time limit and invests from its own balance sheet. The company is curr­ently invol­ved with more than 15 compa­nies in Germany and other German-spea­king count­ries. The Fund Invest­ments busi­ness unit targets the micro and small cap segment of mid-market-orien­­ted private equity funds in Europe. The focus here is on primary, secon­dary and co-inves­t­­ments. NORD Holding focu­ses stron­gly on buyout mana­gers newly estab­lished on the market, opera­tio­nal invest­ment stra­te­gies and also regu­larly acts as an anchor investor.

On the part of NORD Holding, the tran­sac­tion was imple­men­ted by André Seidel, Jan-Phil­ipp Wilckens, David Wöss­ner and Nico­las Eiden­mül­ler. www.nordholding.de